[LINKS]: Links of the week

See all the links and our weekly headline roundup here.

Wasted Wind Power Increases UK Household Energy Bills: A think tank reports that inefficiencies in wind power transmission are adding £40 to household energy bills, with a potential rise to £180 by 2030 due to a bottleneck in transmission between Scotland and England. Read more
Metro Bank Cancels £3bn Mortgage Portfolio Sale: Metro Bank has abandoned its plan to sell a £3bn portfolio of residential mortgages, citing current market conditions as the primary reason. Read more
Bristol Council Uses Bailiffs for Council Tax Debts Despite Ethical Pledge: Contradicting its commitment to ethical debt collection, Bristol City Council has sent over 2,000 council tax debts to bailiffs in the last six months. Read more
UK Urged to Adopt Australian Regulatory Model: A Social Market Foundation think tank paper recommends that the UK follow Australia’s approach to regulation for improved effectiveness. Read more
Improving Credit Scores Could Substantially Increase Borrowing Capacity: Enhancing credit scores might boost the borrowing capacity of subprime consumers by nearly 70%. Read more
Stagnation in UK Productivity Performance: Recent data offers little change in the long-term perspective on the UK’s slowed productivity gains. Read more
Forecast: UK House Prices to Drop in 2024: Predictions indicate a potential 4% decrease in UK house prices during 2024 due to various economic factors. Read more
Energy Debt in UK Reaches £2.9 Billion: Ofgem reports a significant increase in energy debt, prompting new proposals to manage the crisis. Read more
Ofcom Considers Ban on Inflation-Linked Price Rises in Contracts: The UK’s communications regulator proposes a ban on annual inflation-linked price increases in service contracts. Read more
Growing Use of Bailiffs for Council Tax Debt Collection in Bristol: Despite a previous commitment to an ethical approach, Bristol City Council has increasingly referred council tax debts to enforcement agencies. Read more
GenAI Adoption Driven by Five Key Forces: A Gartner survey indicates significant momentum in the adoption of generative AI technologies among executive leaders. Read more
Train Ticket Websites Warned Over Hidden Fees: The UK rail regulator addresses concerns about non-transparent booking fees on train ticket websites. Read more
Christmas Energy Bill Concerns Escalate in the UK: Charities warn of increasing numbers of people borrowing money to pay essential bills, especially energy, during the holiday season. Read more
Cruise, a Driverless Car Firm, to Cut 900 Jobs: Amid regulatory challenges, Cruise plans significant job reductions in its self-driving vehicle division. Read more
Financial Complaints Related to Motor Vehicles Rise in the UK: The Financial Ombudsman reports an increase in complaints regarding the financing and insuring of vehicles. Read more
Rise in UK Citizens Seeking ‘Breathing Space’ for Debt Problems: National Debtline reports an increase in people requiring government-supported debt relief schemes. Read more
Guidance for Vulnerable Customer Support in Water Services: Ofwat sets out new guidelines for water companies to assist customers in England and Wales who require extra help. Read more
Bank of Ireland UK Reprimanded for Inaccurate Customer Data: The ICO reprimands Bank of Ireland UK for sending inaccurate data to credit reference agencies, impacting customers’ credit scores. Read more
NatWest Under Review for Possible Violation of FCA Rules: A review into NatWest’s debanking practices suggests potential breaches of financial conduct regulations. Read more
Ofgem’s New Proposals Amid Rising Energy Debts: The energy regulator’s latest proposals aim to address the growing £2.9 billion energy debt in the UK. Read more